How to improve financial wellness: 4 tips for healthier money habits

Improving your financial wellness starts with building habits that support your goals and build lasting confidence. By taking an active role in managing your money and expanding your financial knowledge, you can feel more confident that the decisions you make are supporting your larger plans and the future you want to create. Developing strong money management skills over time can also help you feel more financially prepared and resilient. Try these four financial wellness tips for building healthier money habits that help you feel empowered and in greater control of your finances.

1. Set goals that make you feel financially confident

The first step in building strong money management skills and enhancing financial wellness is to set realistic, attainable goals and keep track of your progress. Clear goals can help you feel more financially confident by giving your money a purpose and direction. Sometimes, identifying specific financial goals can be challenging. We all have biases that can lead us to choose goals that may be appealing in the moment, but aren’t the most important in the long term.

Once priorities are clear, it helps to identify which goals matter most and organize them by timeline. Write down which goals can be achieved now, goals that require some time to achieve, and goals that need a long-term strategy. Applying a SMART approach can help make sure each goal is Specific, Measurable, Achievable, Relevant, and Timely. Once goals are mapped out, creating a monthly budget can help track income and expenses, control spending, and direct any leftover funds toward long-term targets. It’s important to regularly check your progress and make any adjustments as life changes.

2. Boost your financial knowledge and money management skills

Building strong money management skills is an ongoing process that develops over time through awareness, consistency, and education. Increasing your financial knowledge can help you better understand how daily financial decisions connect to larger goals, making it easier to stay focused and informed as circumstances change. Rather than relying on guesswork, financial knowledge allows you to make decisions based on clarity and understanding.

One helpful way to strengthen financial knowledge is to regularly review account statements, bills, and transaction histories. This habit provides insight into spending patterns and highlights where adjustments may be possible. Over time, reviewing financial activity can help you identify trends, anticipate upcoming expenses, and better prepare for future needs. Even small insights—such as recognizing seasonal expenses or recurring subscriptions—can support healthier financial habits.

Developing strong money management skills also involves understanding how different financial tools work together. Savings accounts, insurance products, and long-term planning tools each serve a specific purpose, and understanding those roles can help you use them more effectively. The goal is not to master every detail, but to build enough financial knowledge to ask informed questions and feel comfortable evaluating options. Improving financial awareness can also help support a more financially confident mindset. When you understand where your money is going and why certain choices are made, it becomes easier to stay aligned with your goals. Financial knowledge does not eliminate uncertainty, but it can help reduce stress by replacing assumptions with information and helping you feel more prepared to navigate financial decisions over time.

3. Avoid emotion-driven decisions that can affect your financial

Emotions naturally play a role in many financial decisions, especially during periods of uncertainty or change. While emotional responses are normal, relying on them too heavily can sometimes lead to choices that do not fully support long-term financial goals. Recognizing when emotions may be influencing decisions is an important part of building healthy financial habits.

Stress, excitement, or pressure can all impact how financial choices are made. For example, unexpected expenses or lifestyle changes may create urgency, while positive events can encourage spending beyond what was originally planned. Taking time to pause and evaluate decisions helps ensure they align with long-term objectives rather than short-term feelings. One way to reduce emotion-driven decisions is to rely on established financial routines. Having a budget, defined goals, and clear priorities can provide structure during moments of uncertainty. These tools act as reference points, helping guide decisions when emotions might otherwise take the lead. This approach supports more consistent money management skills and helps keep financial plans on track.

Practicing thoughtful decision-making can also support overall financial well-being. When financial choices are made with intention and perspective, it becomes easier to maintain progress toward goals and adapt plans as needed. Over time, developing awareness around emotional spending can contribute to greater financial stability and reinforce a more financially confident approach to managing money.

4. Seek financial wellness tips from a trusted loved one or professional

Improving financial wellness does not have to be a solo journey. Discussing money matters with trusted friends and family members can provide a fresh perspective and an opportunity to talk through challenges and share financial wellness tips. They may offer strategies that worked for them, as well as lessons learned from past mistakes, providing insights that can help guide smarter financial choices.

For more in-depth guidance on long-term planning, working with a financial professional can be invaluable. They can help create personalized strategies, clarify options for saving and investing, and provide objective advice that takes emotions out of the decision-making process. Scheduling periodic check-ins can also allow you to monitor progress, discuss any recent changes or life events, and determine if your financial goals still make sense for your current situation.

Why is long-term financial wellness important?

Improving financial health isn’t just about tracking numbers or sticking to a budget. Financial wellness also requires a strategic, positive mindset that focuses on long-term goals, healthy financial habits, and thoughtful decision-making. As life changes, prioritizing financial health helps guide daily choices, reduce financial stress, and build long-term stability and success. It can also provide greater confidence when navigating unexpected expenses, career changes, or early retirement.

Midland National helps promote healthy financial habits for your future

If you’re looking to strengthen financial wellness and long-term stability, Midland National’s annuity and life insurance products can play an important role in your overall strategy. These solutions are designed to help manage risk, build a reliable foundation, and support confidence in your financial future. By incorporating these tools into a broader financial strategy, you can feel more confident about pursuing your goals and maintaining positive money habits that last a lifetime. To take the next step, contact a Midland National agent to learn how we can help support your goals and move forward with greater clarity.

The term financial professional is not intended to imply engagement in an advisory business in which compensation is not related to sales. Financial professionals that are insurance licensed will be paid a commission on the sale of an insurance product.

B3-MN-1-26